Democrats Unveil Corporate Profits Minimum Tax Requiring Wealthiest Companies to Pay 15 Percent Rate

Sen. Elizabeth Warren (D-Mass.) speaks during a hearing on Capitol Hill in Washington on June 8, 2021. Evelyn Hockstein/Getty Images

Three Democratic senators on Tuesday unveiled proposed legislation that would require roughly 200 U.S. companies to pay a minimum 15 percent tax rate

The proposal, called “The Corporate Profits Minimum Tax” is sponsored by senators Elizabeth Warren (D-Mass.), Angus King (I-Maine), and Senate Finance Committee Chair Ron Wyden (D-Ore.) and co-sponsored by senators Michael Bennet (D-Colo.), Edward J. Markey (D-Mass.), and Sheldon Whitehouse (D-R.I.).